The inbound tourism expenditure on passenger transport services in South Africa stood at 27.46 billion South African Rands in 2023. Over the past decade, there have been fluctuations, with significant declines observed in 2020 due to the COVID-19 pandemic. The year-on-year variation for 2023 was 1.45%, and the 5-year CAGR leading up to 2023 was 1.25%. Forecasted data indicates continuous modest growth, with the value expected to reach 29.35 billion South African Rands by 2028, reflecting a 5-year CAGR of 1.17% and a forecasted 5-year growth rate of 5.96%.
Future trends to watch for:
- Post-pandemic recovery and potential shifts in travel patterns.
- Impact of global economic conditions on international travel demand.
- Innovations in passenger transport services that could affect expenditure levels.